Page 255 - Southlake FY24 Budget

Southlake Parks Development Corporation (SPDC) Debt
Service Fund

DID YOU This fund is used to account for the accumulation of financial resources for
KNOW? payment of long-term principle and interest costs for SPDC-approved park
DID YOU
SPDC - DEBT SERVICE FUND
KNOW? improvements.
Parks/Recreation Debt Service
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2 2024 Proposed and 2023 Revised Budget t
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$ Increase/ $ Increase/
2022 2023 2023 (Decrease) % Increase/ 2024 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest Income ($11,413) $1,900 $76,000 $74,100 3900.0% $69,000 $67,100 3531.6%
Total Revenues ($11,413) $1,900 $76,000 $74,100 3900.0% $69,000 $67,100 3531.6%
EXPENDITURES
Principal $2,272,000 $2,334,000 $2,334,000 $0 0.0% $2,409,000 $75,000 3.2%
Interest 524,796 450,383 450,383 0 0.0% 373,576 (76,807) -17.1%
Admin. Expenses 4,792 6,000 6,000 0 0.0% 6,000 0 0.0%
Total Expenditures $2,801,588 $2,790,383 $2,790,383 $0 0.0% $2,788,576 ($1,807) -0.1%
Net Revenues ($2,813,001) ($2,788,483) ($2,714,383) $0 ($2,719,576) ($1,807)
Bond Proceeds $0 $0 $0 $0
Transfers In $2,796,796 $2,784,383 $2,784,383 0 $2,782,576
Total Other Sources (Uses) $2,796,796 $2,784,383 $2,784,383 $2,782,576
Beginning Fund Balance $1,929,429 $1,913,224 $1,913,224 $1,983,224
Ending Fund Balance $1,913,224 $1,909,124 $1,983,224 $2,046,224
FY 2024 Highlights
- The Southlake Parks Development Corporation is responsible for paying principal and interest on
outstanding debt. For FY 2024, the SPDC Debt Service Fund will cover total expenditures of $2,788,576
for this purpose.

FY 2024 City of Southlake | Budget Book 255